Eurozone Inflation to Ease Slightly; Bad News for Euro?
The flash inflation estimates for December will hit the market on Friday at 10:00 GMT. The headline rate is anticipated to edge lower, but remain extremely elevated. Upcoming data are not expected to offer the much needed positive relief for...
USD/CAD Analysis: Reveals New Support Zone
At mid-day on Tuesday, the USD/CAD declined and confirmed the existence of a support zone at 1.2668/1.2677. Meanwhile, the pair appeared to be almost ignoring the 50-hour simple moving average, the weekly simple pivot point and the previous low and...
AUD/USD Analysis: Recovery Touches 0.7250 Level
On Tuesday, the rate conducted another decline to the September low and December high-level zone at 0.7170/0.7185, before starting a sharp recovery. By 16:00 GMT, the rate had already touched the 0.7250 level. The 0.7250 mark caused a minor decline,...
Dollar Shrugs Strong ADP Job Data, Markets Mixed
Markets turned mixed as traders await FOMC minutes. The much stronger than expected US private job data provides little inspiration to the markets. Dollar pares back some gains but remain the second strongest for the week next to Sterling. Yen...
USDJPY Looks Overbought after Sharp Ascent; Bullish Overall
USDJPY resumed its broad positive trend after the bulls drove aggressively to a five-year high of 116.33 on Tuesday, marking seven consecutive days of gains. Despite the fast ascent, the pair could not close above the 116.11 limitation taken from late 2016...
A record 4.5 million workers quit their jobs in November
Commuters arrive from Metro North Railroad trains in Grand Central Station in New York. Timothy A. Clary | AFP | Getty Images Workers quit their jobs in record numbers in November while the total employment openings pulled back a bit,...
ISM Manufacturing Index Slows But Still Registers 19th Consecutive Month of Expansion
The December ISM manufacturing index fell to 58.7, missing market expectations for 60.0. This marked a 2.4 percentage point decrease from the November reading of 61.1. New orders fell by 1.1 percentage points to 60.4, while new export orders decreased...
US Jobs Report, FOMC Minutes to Ring in Busy New Year for the Dollar
After the holiday lull, markets will be getting back into full swing this week as the Fed publishes the minutes of its December FOMC meeting on Wednesday (19:00 GMT) and the latest nonfarm payrolls report comes out on Friday (13:30...
USDCAD Gives Up Rally Near Familiar Resistance
USDCAD swiftly bounced back to the 1.2700 territory after almost touching December’s low of 1.2606 last week, but the descending trendline drawn from the top of 1.2962 managed to put the brakes to the rally once again. The area around...
Full Risk-On Markets Continues, Yen Continues Downside Acceleration
Global financial markets are in full risk-on mode today. Major European indexes are trading higher while US futures indicates that record run is continuing. In the currency markets, Yen’s steep selloff continues and looks unstoppable. Dollar is performing well as...
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